Recall in history how often we rediscover certain great theory or study of one or some underpaid scholars hundreds of years later? I believe it is reasonable to agree that we need keep funding to support a population of scholars whose contribution cannot be readily and accurately assessed. On the other hand, we also cannot afford to support every one who merely claim to be a scholar. So the question is how to keep the balance.
Shall we assume having professors writing articles that no one reads, is one mechanism to keep that balance? Even though the mechanism itself is far from ideal, but until something better prove itself, it is a futile argument.